SOURCE: Blue Diamond Ventures, Inc.

February 11, 2009 08:31 ET

Blue Diamond Ventures, Inc. Poised for Growth in 2009

HOUSTON, TX--(Marketwire - February 11, 2009) - Blue Diamond Ventures, Inc. (PINKSHEETS: BLDV) -- After completing key partnerships and investments in the alternative energy sectors during the past year, Blue Diamond Ventures, Inc., is poised for growth in 2009, the company recently announced.

In 2008, Blue Diamond Ventures, through its affiliate Blue Diamond Ventures Biofuels, LLC, was able to obtain exclusive rights to acquire majority interest in a biodiesel production facility on the Gulf Coast.

Blue Diamond Ventures has also signed agreements with the Ethiopian Ministry of Mines and Energy to utilize a minimum of 50,000 acres to grow industrial hemp, rapeseed and jatropha plants. In addition, Blue Diamond Ventures has formed partnerships with other African nations, which will allow for the control and diversification of feed stock produced from non-food crops. Blue Diamond Ventures, through its affiliate Blue Diamond Ventures Renewables, LLC, also formed partnerships during 2008 to develop wind energy projects throughout the United States, and in 2009, it is negotiating to develop waste-to-energy projects in the United States and Africa.

"We are excited about the achievements the company made over the past year," said John Quincey Moaning, CEO of Blue Diamond Ventures, Inc. "We expect to generate revenues as well as build on the partnerships and investments we have made."

About Blue Diamond Ventures, Inc.:

Blue Diamond Ventures, Inc. is an agricultural company, and through its affiliate, Blue Diamond Ventures Biofuels, LLC, conducts business as a biofuels company with operations in the U.S. and future endeavors in Belize and Ethiopia. The Company is working with Consolidated Energy to design and construct its facilities in the U.S. and abroad, with a focus on making biodiesel using non-food crops.

This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

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